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The Rockets and Magic have finalized a deal to send Tracy McGrady to Houston — provided none of the other principal names in the multi-player trade are selected in Tuesday’s expansion draft, ESPN’s Jim Gray reports.

The trade also includes Juwan Howard to Houston, while Orlando will get Steve Francis, Cuttino Mobley and Kelvin Cato in return. Of those five players, McGrady and Francis are protected and cannot be drafted by the Bobcats. If Charlotte passes on Howard, Mobley and Cato, then the deal is done, Gray reports.

To make the trade work financially under the salary-cap rules, the Magic would also send Tyronn Lue to Houston, reports ESPN’s David Aldridge. Andrew DeClercq may also be shipped to Houston.

Jeff Fried, Francis’ agent, told the Houston Chronicle on Monday that Rockets general manager Carroll Dawson told him the trade was not complete but was close.

“I spoke to Carroll and it was not a done deal,” Fried told the paper. “It’s close. It’s subject to a few contingencies.”

The New York Times reported that the trade could not become official until July 15 due to a stipulation in Francis’ contract that makes him a base-year compensation player.

In the expansion draft (Tuesday, 7 ET), the Bobcats will select 14 players from existing NBA rosters. Few of those players are expected to wind up on Charlotte’s opening-night roster.